Firms either position themselves for a niche market of loyal consumers or they exit the market during the:
A)introduction stage of the product life cycle.
B)levelling stage of the product life cycle.
C)maturity stage of the product life cycle.
D)growth stage of the product life cycle.
E)decline stage of the product life cycle.

Question

Quizplus · Accepted Answer

During the decline stage of the product life cycle, firms may choose to exit the market entirely if they are unable to adapt or differentiate themselves to remain competitive. Alternatively, they may focus on a specific niche market to maintain a smaller but loyal customer base. The other stages of the product life cycle (introduction, growth, levelling, and maturity) typically involve efforts to expand the customer base and increase market share rather than exiting or focusing on a niche.

Firms Either Position Themselves for a Niche Market of Loyal